(1.035)16 = 1.73398604
$500 ===> $866.99 (rounded)
9.5% semi-annually = 19.9025% annually.After 10 years 1200*(1.199025)^10 = 7369.93
It will be 726.
That will depend on the interest rate and whether it is simple or compound interest.
$510.51 ;)
$510.51 ;)
320.51 A+
A Compound interest !
Adding the interest to the original deposit accelerates the deposited value.
It is 202.48 units of currency.
No. If the account is earning interest the current amount should be greater than the initial deposit.
If the interest is reinvested and so itself gains interest (in the next interest period) it is compound interest.
Interest rates for Certificates of Deposit (CDs) are the rate at which your term deposit gains interest. Usually the best one is the biggest, but watch out for banks that may compound the interest at different intervals.